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Wednesday, 14 October 2015

Zinc trading range for the day is 115.3-119.9

Zinc settled down -0.72% at 117.40 slid on Tuesday as mixed trade data revived fears about China's economy, despite showing a surge in imports of the metal. LME Zinc slid 1.3 percent to $1,820. While the metal soared 10 percent on Friday in its largest single-day gain in at least a decade following the Glencore supply cuts. Data released earlier showed that China's trade surplus widened to $60.3 billion last month from $60.2 billion in August, compared to estimates for a surplus of $46.8 billion.Trading Ideas:Zinc trading range for the day is 115.3-119.9.Zinc prices declined after latest trade figures out of China added to concerns over the health of the world's second-biggest economy.Data showed that China's trade surplus widened to $60.3 billion last month from $60.2 billion in August, compared to estimates for a surplus of $46.8 billion.Chinese exports slumped 3.7% from a year earlier, better than forecasts for a decline of 6.3%